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The long-running standoff between Umeme and the Uganda Electricity Transmission Company Limited (UETCL) over a UGX 594 billion debt has once again thrown Uganda’s power sector into turmoil, exposing deep financial fissures in the country’s electricity value chain. In an exclusive response to the CEO East Africa Magazine, UETCL maintains that the UGX 593.5 billion in question represents verified receivables accumulated from energy sales to Umeme under the Power Sales Agreement (PSA), which governed the purchase and distribution of electricity throughout the company’s 20-year concession. According to the transmission utility, the figure audited and confirmed by the Office of the…
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In a surprise executive shake-up, Uganda Electricity Transmission Company Limited (UETCL) has announced the resignation of its Chief Executive Officer, Mr. Joshua Karamagi, CFA. The Board of Directors accepted his resignation and has immediately appointed veteran power sector engineer, Richard Matsiko as Acting CEO. Karamagi’s exit marks the end of a pivotal chapter for UETCL, the country’s state-owned electricity transmission backbone. Karamagi presided over transformative infrastructure projects including the Gulu–Agago 132kV and Kole–Gulu–Nebbi–Arua 132kV lines — developments that have significantly expanded grid access in Uganda’s underserved regions. He also championed the company’s five-year corporate strategy, cementing UETCL’s role in Uganda’s…
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Hardly two years after arriving in Uganda to take up her very first CEO role at Uganda’s largest telco, MTN Uganda, Sylvia Mulinge has emerged as Uganda’s most admired CEO, in the CEO East Africa Magazine’s inaugural 100 Leading & Most Admired CEOs In Uganda Survey. The 2-in-1 CEO East Africa Magazine’s Most Trusted and Respected Companies & The Most Admired CEOs in Uganda Survey 2024 is part of the magazine’s thought leadership agenda that seeks to create a body of knowledge on what exactly great companies and great leaders are made of, as well as recognise them. “This, we…
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Joshua Karamagi was appointed Chief Executive Officer of Uganda Electricity Transmission Company Limited (UETCL) in March 2023, at the most unusual of times. He joined the government-owned electricity transmission company following the Board’s firing of the top leadership in August 2022. The Board that appointed him itself, was new since the Ministry of Finance, Planning & Economic Development (MoPED) fired the entire old board in April of the same year. The new board was led by Kwame Ejalu Ejuku, a respected and no-nonsense Ugandan entrepreneur and businessman in the non-banking financial sector. Over and above having to build a new…
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When it comes to electricity, there is a common question among Ugandans, ‘why does Uganda export power to other countries when we need it here?’ Well, we are part of the process of trying to actualise this vision of a fully integrated power market. The government of Uganda has heavily invested in electricity power generation & transmission and with the much-awaited Karuma Hydropower Plant and its interconnection power lines coming on board, an extra 600MW will be added to the national grid. The question is, where do we put all this power if the local market cannot consume it all…
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Uganda Electricity Transmission Company Limited (UETCL) has announced today that Joshua Karamagi, CFA, has been appointed as its new CEO. UETCL is a Government of Uganda 100% owned company that purchases electricity in bulk from generating companies and sells it to distribution companies throughout Uganda. He replaces George Rwabajungu who resigned in August 2022. Taremwa Micheal Kananura has been holding the CEO position in an acting capacity for the last five months. Karamagi will assume office on the 1st of March 2023. An accomplished finance professional and business leader, he brings to UETCL over 25 years of CFO experience, 8…
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